XRP, Cardano (ADA), and Stellar (XLM) Rally Over 72% as Bitcoin (BTC) Inches Toward the $100,000 Mark

According to Santiment, altcoins like XRP, Cardano, Stellar, Hedera, Mantra, and Algorand are fast increasing their market capitalizations amid Bitcoin's historic move.

Bitcoin (BTC) price maintained an upward momentum following Donald Trump’s US Presidential win, surging past the $98,000 price point. As BTC inches toward the $100,000 mark, XRP, Cardano (ADA), and Stellar (XLM) also led a major rally.

XRP, ADA, XLM Rally Over 72%

According to Santiment, altcoins like XRP, Cardano, Stellar, Hedera, Mantra, and Algorand are rapidly increasing their market capitalizations amid Bitcoin’s historic move. The platform predicts that November profits will continue to spread to altcoins if BTC maintains support above $95,000.

While eyes have been on Bitcoin making history, altcoins like XRP, Cardano, Stellar, Hedera, Mantra, and Algorand are growing their respective market caps rapidly. As long as BTC maintains a ~$95K+ support , expect November profits to continue redistributing to altcoins.

XRP remained a top gainer in the altcoin sector, with its price shooting up more than 72% in the past week. Currently ranking as the sixth-largest cryptocurrency with a market capitalization of $79.8 billion, XRP increased by 25.37% to $1.41 in the last 24 hours, with a trading volume surging by over 160%.

XRP’s surge can be mainly attributed to the ongoing bull market. The coin rose to $1 due to market optimism fueled by its correlation with Bitcoin. Also, as covered by CNF, analysts are suggesting that a settlement may pave the path for future growth and Exchange-Traded Funds (ETFs).

Moreover, Cardano’s native token, ADA, increased by 40.89% in the past week to $0.8642. This marks the first time in months that ADA’s price has gone past $0.75. The market cap currently stands at $30.4 billion, with a daily trading volume increasing by 19.8% to $3.4 billion. As covered in a CNF article, popular crypto analyst Ali Martinez predicted that ADA may reach $6 by July to September next year.

XLM also saw large surges over the last 24 hours and 7-day period. At the last update, XLM had risen 23.02% in the previous 24 hours and 44.5% in the past week. Stellar’s surge is linked to the blockchain’s increasing adoption among institutional players like Franklin Templeton.

Bitcoin Touches $98K, Will Altcoins Follow?

Bitcoin price hit a critical milestone this month, breaking through a 1,279-day resistance area between $65,000 and $74,000 since April 2021. The leading coin breached the key $98,000 price point following a 1.2% daily surge.

BTC trades at $98,889 at press time, with a market capitalization of $1.9 trillion. The crypto markets had a major and widespread recovery in the past week, driven by optimism surrounding Donald Trump’s US election victory. The global market cap briefly crossed the important $3 trillion threshold, pushing to $3.2 billion at press time.

Analysts are suggesting that Bitcoin will reach $200,000 by 2025, spurred by favorable market conditions, prospective crypto-friendly policies, and institutional interest. It remains to be seen how high the altcoin will soar moving forward.